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CHINA PRESS: The U.S. Treasury has remained professional and has withstood
President Trump's arbitrary pressure, and has not labelled China as a currency
manipulator in its latest biannual foreign exchange report, said Global Times on
- China does not meet the national standards for exchange rate manipulation
set by Congress. These criteria include: a trade surplus of at least USD20
billion with the United States, a current account surplus of more than 3% of
GDP, and repeated intervention in the foreign exchange market, according to the
newspaper, citing a Bloomberg report.
- As soon as the report came out, the offshore RMB exchange rate against the
U.S. dollar began to rise, passing 6.93, Global Times said.
(Link to the story: https://tinyurl.com/ycjprl4f)